More workers aim to become self-employed

The number of workers in the UK who plan to become their own boss has almost doubled in the past year, according to research.

Aldermore polled 2,003 adults and found that 29% aim to start their own business in the future, up from 15% in 2017.

Some 18% of those intend to make the switch in the next 12 months, while 28% believe they will give up full-time work to become their own boss within 3 years.Of those respondents, 15% planned to launch a business in the retail sector, followed by 11% in catering and accommodation.

This optimism was backed up by positive responses from those who had already made the transition to self-employment. Nearly a third (29%) expected their income to grow in the next 12 months, while 48% expected it to remain the same.

The majority (93%) said they enjoy being their own boss, and 51% have been able to earn more than they did in their previous job.

Charles McDowell, commercial director at Aldermore, said:

The research demonstrates that the UK is a truly entrepreneurial nation with 9 million people considering making the ambitious move to become self-employed.

It is encouraging to see almost 3 in 10 expect their revenues to increase in the next 12 months, which is a positive outcome in light of myriad uncertainties.